By Times Now Digital
Crizac鈥檚 Rs 860-crore IPO opened for bidding on Wednesday, featuring an offer-for-sale of 3.51 crore equity shares priced between Rs 233 and Rs 245 each. The subscription period will remain open until July 4, with the anticipated listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) set for July 9. The current Grey Market Premium (GMP) stood at 9% above the issue price. Company Overview and Financial Performance Founded in 2011, Crizac operates a business-to-business (B2B) international education platform that connects universities from the UK, Canada, Ireland, Australia, and New Zealand with global student recruitment agents. The company has demonstrated significant growth, with total income increasing from Rs 274 crore in the financial year 2022-2023 (FY23) to Rs 849 crore in FY2024-2025 (FY25), representing a compound annual growth rate (CAGR) of 76%. Profit after tax (PAT) rose from Rs 110 crore to Rs 152 crore during the same period, with FY25 earnings per share at Rs 8.74 and net margins of 18%. Notably, Crizac operates debt-free, showcasing strong cash flows and a healthy balance sheet. Investment Insights and Market Position At the upper end of the price band, the IPO is valued at a price-to-earnings (P/E) ratio of 28 times FY25 earnings and a price-to-book (P/B) ratio of 9 times, aligning it closely with its only comparable listed peer, IndiaMART. The minimum investment for retail investors is set at Rs 14,945 for a lot size of 61 shares, while high net-worth individuals must apply for at least 14 lots, equating to an investment of Rs 2.09 lakh. Analysts have highlighted Crizac’s advantageous position to capitalise on the increasing trend of Indian students studying abroad, with projections indicating this market could reach 2.5 million students by 2030. However, they caution potential investors to consider regulatory risks, particularly as the UK and Canada, Crizac’s largest markets, have recently tightened student visa regulations, which could impact future revenue growth. 鈥淐rizac combines digital platform scale, a rising global education trend, and disciplined financial performance,鈥 said Canara Bank Securities. 鈥淭hese elements are highly valued by long-term investors.鈥 Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world.